In our Money Mic series, we hand over the podium to people with controversial views about money. These are their views, not ours, but we welcome your responses.
In his last essay for LearnVest, Sean shared his master plan for paying off a large chunk of his home loan in “How I Paid $100,000 Off My Mortgage in Under 2 Years.” Today, he talks about how income from two side gigs is helping him to further put a dent in his mortgage—and why he relishes every moment of his jam-packed work life.
It’s 5 A.M. And although the sun hasn’t yet risen, I’ve already started my workday. Around this time, you’ll usually find me typing away on my laptop because mornings are when I’m most productive.
Why am I up at the crack of dawn when I could be catching some much-needed shut-eye? It’s because I have three jobs—and not because I have to, but because I want to.
My regular nine-to-five has me working as a pension analyst at a global pension and benefits consulting firm, where I make about $49,000 a year. But I also work two side jobs: I have a part-time, weekend position as a meat-department clerk at a supermarket, and I write freelance articles about finance at night and on weekends.
My family and friends often ask me why I choose to work three jobs when many people struggle just to keep up with the hectic pace of one—especially since my salary can sustain my current lifestyle. But I’ve always had a strong work ethic, plus I have financial goals that won’t happen on their own. And my extra income helps me form a game plan to achieve them.
Why Having Three Jobs Is Worth It (Really!)
One of the goals I’m working toward is to pay off my mortgage by age 31—and that’s only about three years away. As such, I route much of my side-job income directly toward paying down that loan, and at the rate I’m going, I expect to meet my timeline.
I’m able to do this thanks to a couple of moves I’ve made. For starters, I rent the main floor of my house for $1,550 per month, while I live in the basement. And since I know that the pay from my supermarket job is a reliable source of income, I increased my mortgage payment to include that amount.
Last year, I earned $10,000 from my supermarket job, and brought in an additional $20,000 from my freelance writing—making it my most successful year to date.